Fresenius SE & Co. KGaA (FRE) Fair Value & Analysis
Healthcare · DE · Market cap €23.5B · ISIN DE0005785604
What is Fresenius SE & Co. KGaA really worth?
A solid business, but trading 36% above our fair value of €32.15.
Strengths
Risks
For context
Fair value as of: Sep 1, 2026
From 25 valuation models · updated 4 days ago
Share price −6.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €18.41 – €50.71 · fair‑value band €27.44 – €48.50 · the €43.63 price screens above the €32.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Fresenius SE & Co. KGaA (FRE) currently trades at €43.63, while our model-based Fair Value estimate is €32.15, implying the stock looks roughly 35.7% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of €39.20 per share, and 4 of the 25 models we run sit above the €43.63 price. Bear case: the Dividend Discount group reads lowest at €16.16, and 21 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Fresenius SE & Co. KGaA generated revenue of €23.0B at a net margin of 6.4%. Revenue grew 2.0% year over year. It earns a return on equity of 7.8%. Net debt stands at €10.3B. Fundamentals as of Sep 1, 2026
Our scenario range runs from €27.44 (bear case) to €48.50 (bull case); at €43.63, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −26%, FRE screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €1.10 per share, which is 3.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Growth Earnings (€39.20) versus Dividend Discount (€16.16). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fresenius SE & Co. KGaA, a health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa. It operates through Fresenius Kabi and Fresenius Helios segments.
Full company description
Fresenius SE & Co. KGaA, a health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa. It operates through Fresenius Kabi and Fresenius Helios segments. The Fresenius Kabi segment offers products for therapy and care of critically and chronically ill patients, including biopharmaceuticals, clinical nutrition, MedTech products, intravenously administered generic drugs, and IV fluids. It also provides biosimilar drugs; enteral and parenteral nutrition products; and medical technologies that include disposables, infusions pumps, apheresis machines, cell therapy devices, and other products. The Fresenius Helios segment operates hospitals, medical care centers, occupational health centers, prevention centers, and outpatient health centers, as well as provision of medical diagnostics. The company has a strategic collaboration with SAP SE and Avelios Medical GmbH for the development of a cloud-native, modular hospital information system that enables digitalization of clinical and administrative processes with AI integration. The company was formerly known as Fresenius SE and changed its name to Fresenius SE & Co. KGaA in January 2011. Fresenius SE & Co. KGaA was founded in 1912 and is based in Bad Homburg vor der Höhe, Germany.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fresenius SE & Co. KGaA reported revenue of €22.9B in FY2025 versus €37.1B in FY2021, a compound −11.4%/yr. Reported net income was €1.3B in FY2025, compounding −8.7%/yr from FY2021.
of which total revenue −1.8 % · buybacks/dilution −0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
FRE screens 36% overvalued. Compare with HCA Healthcare, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Are Investors Undervaluing Fresenius SE & Co. (FSNUY) Right Now?
- Fresenius SE & Co KGaA (FSNUY) (Q2 2026) Earnings Call Highlights: Raises Full-Year EPS ...
- Fresenius Announces FDA Approval of Rituximab Biosimilar for the U.S. Market
- Fresenius Announces FDA and EMA Acceptance for Review of Vedolizumab Biosimilar Candidate
Peer Group
Medical Care Facilities · 256 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Care Facilities median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| HCA Healthcare, Inc HCA | $417.82 | $547.67 | +31% |
| Dr. Sulaiman Al Habib Medical Services Group 4013 | 241.00 SAR | 112.37 SAR | −53% |
| IHH Healthcare Berhad, an investment holding company, Q0F | 2.67 SGD | 1.44 SGD | −46% |
| Tenet Healthcare Corporation THC | $266.80 | $330.25 | +24% |
| DaVita Inc DVA | $180.68 | $186.49 | +3% |
| Apollo Hospitals Enterprise Limited APOLLOHOSP | ₹8,818 | ₹2,955 | −66% |
| Fresenius Medical Care AG FME | €39.92 | €71.28 | +79% |
| Aier Eye Hospital Group 300015 | ¥8.25 | ¥7.67 | −7% |
| Max Healthcare Institute Limited MAXHEALTH | ₹1,005 | ₹284.87 | −72% |
| Encompass Health Corporation EHC | $120.31 | $109.77 | −9% |
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